Business Model Canvas

Key Resources describes the most important assets required to make a business model work. These are the resources that allow an enterprise to create and offer a Value Proposition, reach markets, maintain relationships with Customer Segments, and earn revenues.

When developing your Key Resources segment, closely consider the first four blocks. Your resources will have to comprehensively account for any accepted hypotheses thus far; if you don’t have the means to provide value, then there is no value. With that said, many resources will be obvious, and may not need much debate. However large decisions, such as real estate acquisition, should be subject to scrutiny.

This begins a phase of the BMC that will have you making more phone calls to businesses than customers, and it’s imperative that you ask questions that will develop your BMC further. For this segment, identifying solutions through research should account for about half your experiments, and making the right phone calls should be the other half.

Questions to Answer:

What Key Resources do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue Streams?

4 Categories of Key Resources:

Physical – Buildings, vehicles, machines, raw goods, etc.
Intellectual – Brand, proprietary knowledge, patents, partnerships, etc.
Human – Creativity, experience, etc.
Financial – Cash, credit, stock, etc.

Our Experience:

The DoughJoe- In our limited amount of time it was difficult to accommodate the long list of necessary resources; you’ll find some businesses more prompt in their response than others. It also may be useful to solicit advice from someone in your target industry if it’s available, since certain resources may not be obvious.

Crepe Expectations- For our food truck, we considered all of the different types of resources (physical, financial, human, and intellectual) and laid them out in a resources assumptions spreadsheet. We estimated our numbers based on research through the databases on the library websites (see Helpful Resources) and through articles posted about established food trucks and some of the resources they utilized.

Resources Assumptions

Physical:

Truck and Equipment
60,000 – 70,000

Financial:

Startup Costs: ~65-78K + ~6 mos. of expenses

Personal Funds/Family & Friend Contributions
50,000

Consider Credit Cards

Consider Equity Capital

Loan: Bank or U.S. SBA
40,000

Avg. U.S. SBA loan for 2012 was ~337K

Crowdfunding
10,000

Foodstart.com – 5% plus 2.9% card processing fee